Economy / Markets
Nasdaq closes at a record as the AI trade re-ignites, with Meta's Muse assistant pulling megacaps higher
The Nasdaq Composite jumped 2.26% to 27,122.09 on Monday for its first closing high in nearly four months, while the S&P 500 advanced 1.49% to 7,764.70 and the Dow Jones Industrial Average rose 0.71% to 52,048.83. The Magnificent Seven all rallied, with Meta up 11.43% after Wells Fargo lifted its price target on the launch of the Muse AI assistant, and AMD's trillion-dollar moment added a fresh layer of optimism around AI infrastructure. The 10-year Treasury yield slipped below 5% and Brent crude held near $100 as traders repositioned for a diplomatic week in New York.